In the latest trading session, Honeywell International Inc. (HON) closed at $191.43, marking a -1.55% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.64%. At the same time, the Dow lost 1.08%, and the tech-heavy Nasdaq lost 1.82%.
Prior to today's trading, shares of the company had gained 3.93% over the past month. This has outpaced the Conglomerates sector's gain of 1.98% and the S&P 500's gain of 0.89% in that time.
Honeywell International Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Honeywell International Inc. to post earnings of $2.22 per share. This would mark a year-over-year decline of 1.33%. Our most recent consensus estimate is calling for quarterly revenue of $9.23 billion, up 3.12% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.16 per share and revenue of $37.44 billion, which would represent changes of +4.57% and +5.57%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Honeywell International Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.01% higher. Honeywell International Inc. is currently a Zacks Rank #3 (Hold).
Investors should also note Honeywell International Inc.'s current valuation metrics, including its Forward P/E ratio of 21.23. This represents a premium compared to its industry's average Forward P/E of 16.63.
We can also see that HON currently has a PEG ratio of 2.37. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Diversified Operations industry currently had an average PEG ratio of 1.96 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 112, putting it in the top 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report